Originating & Underwriting

Manufactured Housing Financing

Affordable financing options

Today's modern manufactured homes (MH) can help ease the nation's affordable housing shortage, address borrowers' evolving needs, and provide a growing business opportunity for lenders and the industry. Fannie Mae offers several options to support mortgage lending for manufactured homes.

Questions?

Lenders: Contact your relationship manager.

Retailers/Manufacturers/Builders/Developers

Contact us by email to learn more, including how to become a participating manufacturer.

Manufactured housing mortgages

MH Advantage

MH Advantage® combines features, like a down payment as low as 3%, with the lower price and customizable finishes of modern manufactured homes. MH Advantage homes are built to blend into traditional neighborhoods.

MH Advantage homes: Similar to site-built with simple appraisal

MH Advantage homes have features like lower profile foundations, garages or carports, and drywall throughout. See the Retailer Home Specs for details.

Appraisers choose the most appropriate comparable sales, which – unlike standard MH – may include sales of site-built homes. Confirming the home is eligible for MH Advantage is also easy for lenders:

  • The appraiser will include photos of the MH Advantage manufacturer sticker and specific access improvements in the appraisal.
  • Lenders only need to confirm those photos are present in the report to know a home is eligible.

See the Lender Process Overview for details.

Affordable Conventional Financing

MH Advantage brings affordable financing to manufactured housing with:

  • A down payment as low as 3%
  • Waived 0.50% LLPA, which means more homebuyer savings
  • MI coverage comparable to site-built homes
Standard MH

Financing for traditional single- and double-wides

Standard MH financing, for homes that don’t qualify for MH Advantage, provides a path to homeownership for millions of American households, especially in high-cost and rural areas. Fannie Mae purchases mortgages secured by manufactured housing titled as real estate using our standard MH underwriting guidelines.

gray manufactured home with porch and garage

Get the details on Manufactured Housing offerings:

Visit the Learning Center for additional resources, including training, fact sheets, MH Advantage Specs, and other resources.

C-to-P for Manufactured Housing:

Manufactured homes are now eligible for Construction-to-Permanent financing. Find more details on the C-to-P Financing page or the MH Financing Matrix.

Homeownership Education

To qualify for purchase loans with a LTV greater than 95%, homeownership education will be required for at least one borrower when all occupying borrowers are first-time home buyers.

Learn more
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